Paul Singer: The Passive Blob Is In "Danger Of Devouring Capitalism"

Elliott Management’s Paul Singer is worried about the structure of financial markets. In Paul Singer’s second quarter letter to Elliot investors, a copy of which has been reviewed by VallueWalk, the billionaire contemplates how markets today are now ruled by central banks, after years of ultra-easy monetary policy. These policies have resulted in the Swiss National Bank owning global stocks with a market value equal to 23% of the GDP of Switzerland and the Japanese central bank being a top-ten shareholder in 90% of Japanese companies. Q2/H1 Hedge Fund Letters – Letters, Conferences, Calls, And More Passive Investing ETFs Account…